CyberCube has released an updated version of its cyber risk modelling platform, Account Manager. Incorporating a revamp of its scoring methodology and a broader collection of threat information, the solution now evaluates risks through the lens of security and exposure from an insurance perspective.
Underwriters can now define their risk tolerance and use these scores to standardise and automate the underwriting process.
Morgan Hervé-Mignucci, the firm's director of cyber risk modelling, said: “It’s important to update Account Manager because cyber is such a dynamic peril, so we need to reflect the most up-to-date landscape we can. We have sourced and curated signals related to the digital supply chain, web traffic hygiene and common software vulnerabilities as a part of the new edition of the product. We have also revised our scoring algorithms to include new risk factors to help underwriters select, differentiate, and price risk in a robust fashion.”
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Financial institutions were early adopters of cyber security and insurance. Are they still on top of the game?
Managing huge amounts of sensitive data online makes financial institutions a prime target for hackers. As such, the sector was an early cohort for insurers in creating cyber cover. Since then, the market has evolved almost beyond recognition. It continues to challenge itself to this day, complying with rigorous regulatory demands and implementing avant-garde enhancements to keep abreast of the ever-changing risks.
Manufacturing: An industry at risk amid great technological change
Of the many sectors of business, manufacturing companies are among the most at risk from cyber threats. How has the sector evolved to make it so vulnerable and what does the task of managing cyber exposure in a manufacturing company look like? CIR’s latest podcast with Tokio Marine HCC sought to answer all these questions and more. Published April 2021
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